SUBJECT: Consideration of a Ground Lease Between the City of Merced and Vegetable Flight Resources, LLC for Development of a Private Hangar on Approximately 10,000 Square Feet of Land on the Merced Regional Airport with Rent Starting at $3,100.00 per Year for a Term of Thirty (30) Years, with an Option Term of Fifteen (15) Years REPORT IN BRIEF Considers a lease agreement (30-year term with 15-year option) with Vegetable Flight Resources, LLC for use of approximately 10,000 square feet located on the Merced Regional Airport for development of a private aircraft hangar. RECOMMENDATION City Council - Adopt a motion approving a lease agreement between Vegetable Flight Resources, LLC and the City of Merced and authorizing the City Manager or the Assistant City Manager to execute all necessary documents.

Consent Item Passed Introduced January 7, 2020

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Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Introduced: January 7, 2020
On agenda: January 21, 2020
Passed: January 21, 2020